Welcome to our dedicated page for Heritage Global news (Ticker: HGBL), a resource for investors and traders seeking the latest updates and insights on Heritage Global stock.
Heritage Global Inc. reports on an asset-services business that values and monetizes industrial and financial assets through acquisition, disposition, valuation, brokerage and lending services for surplus and distressed assets. The company operates through Industrial Assets and Financial Assets business units, including Heritage Global Partners for auctions, liquidation and asset advisory work, Heritage Global Valuations for commercial and industrial appraisals, and National Loan Exchange for charged-off and nonperforming asset portfolios.
Recurring company updates include quarterly results, share repurchase activity, asset auctions, valuation and advisory appointments, facility investments, and completed acquisitions such as DebtX, which expands loan-portfolio advisory and secondary-market services within the Financial Assets division.
Heritage Global Partners (HGP), a subsidiary of Heritage Global Inc. (NASDAQ: HGBL), has been appointed by the U.S. Bankruptcy Court to conduct an online auction of Electriq Power's assets (Case # 9:24-bk-15235). The auction features over $18 million in smart energy storage inventory, comprising more than 1,000 lots of brand-new equipment.
The sale includes lithium-ion batteries, inverters, solar panels, and other new in-box smart energy products. The auction targets users, dealers, installers, integrators, and technical professionals in the alternative energy sector. Online bidding opens on March 26, 2025 and closes on March 27, 2025 at 8:00 AM PDT.
Heritage Global Valuations (HGV), a division of Heritage Global Inc. (NASDAQ: HGBL), has appointed Ray Chen to lead business development initiatives in the Midwest region. Chen, who joined HGV in 2022, will focus on expanding the company's presence while continuing his role as an inventory appraiser.
Chen brings nearly a decade of experience in asset valuation and advisory services, previously working at a national appraisal and asset liquidation firm. He holds a BS in Finance and Economics from DePaul University and has expertise in industrial asset valuation, corporate finance, and strategic analysis.
This strategic appointment aligns with Heritage Global Inc.'s expansion goals in key markets. HGV specializes in commercial & industrial asset valuation, including inventories and machinery & equipment, serving clients across various industries from industrial manufacturers to e-commerce retailers.
Heritage Global (NASDAQ: HGBL), an asset services company focused on financial and industrial asset transactions, has scheduled its fourth quarter and year-end 2024 financial results announcement for Thursday, March 13, 2025, after market close.
The company will host a webcast and conference call at 5:00 p.m. ET on the same day to discuss the results. Investors can join via conference call using domestic (1-800-225-9448) or international (1-203-518-9708) dial-in numbers with Conference ID: HGBLQ4. A replay will be available until March 27, 2025, accessible through domestic (1-844-512-2921) or international (1-412-317-6671) numbers with pin 11158220.
Heritage Global Partners (HGP), a subsidiary of Heritage Global Inc. (NASDAQ: HGBL), in partnership with Cloud Investment Partners, has announced an exclusive online auction of surplus SATCOM communications and field equipment from a major aerospace defense contractor. The auction will take place from February 5th to 6th.
The sale features over 700 auction lots of rare and specialized equipment including:
- 8 units of 2020 AM General Model M1152 HMMWV (Humvees)
- 8 Gichner Shelter Systems Transportable Communications Command and Control Shelters
- 8 L3 Harris Wide Band Data Link Ground Node Systems
- 8 Triton Power 26 KW Diesel Generators
- 8 L3 Satellite Communications Systems
- 8 L3 Communications 17.5" KU Band SATCOM Antennas
- Various test equipment including signal generators, analyzers, and oscilloscopes
Heritage Global (NASDAQ: HGBL) reported its Q3 2024 financial results, showing a decline in performance compared to the same period in 2023. Operating income decreased to $1.5 million from $2.8 million, while net income fell to $1.1 million ($0.03 per diluted share) from $2.0 million ($0.05 per diluted share). The company strengthened its balance sheet, increasing stockholders' equity to $66.1 million and net working capital to $16.2 million. The Board approved an increase in share repurchase authorization to $6.0 million, with $4.1 million remaining. The industrial segment experienced lower revenue due to fewer large auctions, while the financial assets division performed as expected.
Heritage Global Inc. (NASDAQ: HGBL), an asset services company specializing in financial and industrial asset transactions, has announced it will release its third quarter 2024 financial results after market close on Thursday, November 7, 2024. The company will host a webcast and conference call at 5:00 p.m. ET on the same day to discuss the results.
Analysts and investors can participate in the conference call using the following dial-in information:
- Domestic: 1-800-717-1738
- International: 1-646-307-1865
- Conference ID: 59480
Heritage Global Partners (HGP), a subsidiary of Heritage Global Inc. (NASDAQ: HGBL), has been appointed to conduct two major online auctions of Cue Health's assets by order of the US Bankruptcy Court. The auctions feature over 2,000 lots of state-of-the-art equipment from Cue Health, a San Diego-based healthcare technology and Covid-19 testing company.
The first auction, scheduled for August 19-20, 2024, will offer cutting-edge research, development, and laboratory equipment from Cue Health's Carrol Canyon location. The second auction, set for August 27-29, 2024, will include machine tools, packaging and assembly equipment, and facility support assets from Cue Health's manufacturing plant in Vista, CA.
Heritage Global Inc. (NASDAQ: HGBL) reported financial results for Q2 2024, showing operating income of $3.5 million, up from $3.1 million in Q2 2023. Net income was $2.5 million or $0.07 per diluted share. The company's industrial assets division performed well, with high demand for auction services. However, the specialty lending segment faced challenges as its largest borrower defaulted, leading to loans being placed in nonaccrual status. This is expected to reduce 2024 operating income by approximately $1.6 million. Despite this setback, Heritage Global's other operating businesses continue to perform well, maintaining consistent profitability.
Heritage Global Partners (HGP), a subsidiary of Heritage Global Inc. (NASDAQ: HGBL), is set to host an exclusive online auction featuring premium assets of Waitr Holdings Inc. The auction, scheduled to close on September 5, 2024, offers a unique opportunity for businesses and entrepreneurs to acquire valuable intellectual property, including:
- Over 45 premium domain names (e.g., ASAP.COM, AlcoholASAP.com)
- More than 15 trademarks (including Bite Squad, Foodify)
- Copyrights and patents for innovative products
- Exclusive customer and restaurant lists
This sale presents a rare chance to obtain top-tier assets that can significantly enhance business operations and market presence in the on-demand delivery and online ordering space.
Heritage Global (NASDAQ: HGBL), a company specializing in financial and industrial asset transactions, announced it will release its second quarter 2024 financial results after market close on Thursday, August 8, 2024.
Additionally, the company will host a webcast and conference call at 5:00 p.m. ET on the same day to discuss the results. The call will be accessible via provided domestic and international dial-in numbers and will also be available on the company's Investor Relations website.
A replay of the call will be available approximately three hours after the call concludes, with access details provided for both domestic and international participants. The webcast replay will also be available on the Investor Relations section of the company's website.